Net Loss Per Common Share

3 Months Ended

Apr. 28, 2012

Net Loss Per Common Share [Abstract]

Earnings Per Share

Net Loss Per Common Share

Basic earnings (loss) per share is computed by dividing reported earnings by the weighted average number of common shares outstanding for the reported period. Diluted earnings (loss) per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock of the Company during reported periods.

A reconciliation of earnings (loss) per share calculations and the number of shares used in the calculation of basic loss per share and diluted loss per share is as follows:

	Three-Month Periods Ended
	April 28, 2012			April 30, 2011
Net loss (a)	$	(8,739,000	)	$	(28,930,000	)
Weighted average number of common shares outstanding — Basic	48,638,164			40,655,177
Dilutive effect of stock options, non-vested shares and warrants (b)	—			—
Weighted average number of common shares outstanding — Diluted	48,638,164			40,655,177
Net loss per common share	$	(0.18	)	$	(0.71	)
Net loss per common share — assuming dilution	$	(0.18	)	$	(0.71	)

(a) The net loss for the three-month periods ended April 28, 2012 and April 30, 2011 include charges totaling $500,000 and $25.7 million, respectively, related to losses on debt extinguishment made during the first quarters of fiscal 2012 and fiscal 2011.

(b) For the three-month periods ended April 28, 2012 and April 30, 2011, approximately 3,642,000 and 6,367,000, respectively, incremental in-the-money potentially dilutive common share stock options and warrants have been excluded from the computation of diluted earnings per share, as the effect of their inclusion would be antidilutive.